"I am very new to share market investing but know a couple of guys that do invest. Does anyone out there know how i can turn about 60k in cash into as much as possible so i can buy myself a small unit in the city. I wish to invest for say 13 to 14 months to reduce my tax liability."
You could not have picked a worse place to come for investment advice (unless of course your housing options include roughing it under a bridge in a cardboard box). Firstly 13 to 14 months is too short a time horizon to contemplate an investment in the stockmarket. A minimum of 5 years, preferably 10 years, is recommended. As for your plan to buy a unit in the city, I suggest you take the plunge now, and borrow the necessary amount. If need be, rent the place out for a while, and the interest rate dedcuction is as good a way as any to reduce your tax liability. Not only does this strategy gets you on your way to saving and building equity in a good asset, it also affords you the necessary time to learn about what really works in the stockmarket. When your knowledge base improves, you can enter the stockmarket with more confidence.
